BTC USD Technical Analysis & Forecast

Updated

With the previous double top pattern formed through the 19500 and 17300 peaks, BTC went down to 6600. Followed by Head & Shoulders, taking it up all the way to 11800. Currently, BTC formed a double top again and expected to go down to 6000-6600 (coinciding with the support levels).

By reaching to the 6000-6600 level, it will be completing a double bottom, taking it all the way up to 12000 level.

Note

it seems BTC is still going along our descending channel, so far we are still headed towards 6000-6600, I personally don't think there is any reason to panic from the recent bounces, it's all conclusive with the down trend following the previously formed double top

Trade active

As mentioned previously, we are now waiting for BTC at the 6000-6600. Expected to rise nicely and ultimately to the 12000 levels and then we can analyze from there :)

A little boost in the price today showed a noticeable volume of people on standby waiting to join in but that was the wrong time, definitely wait for the 6000-6600 before deciding to get back on the game!

Note

6600 obviously showing some support as expected two weeks ago, breaking this support should easily take us to the 5600-5800, see you down there! :)

Note

BTC bounced off the 6600 support, which was a great buy-in opportunity, let's see how it handles the 7800 resistance

hsnz

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